Insider Buying: Prairie Operating Co. (NASDAQ:PROP) Major Shareholder Buys 204,422 Shares of Stock

Prairie Operating Co. (NASDAQ:PROP) major shareholder James W. Wallis purchased 204,422 shares of the firm’s stock in a transaction that occurred on Thursday, September 7th. The shares were acquired at an average cost of $3.05 per share, with a total value of $623,487.10. Following the completion of the purchase, the insider now directly owns 774,345 shares in the company, valued at approximately $2,361,752.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Major shareholders that own 10% or more of a company’s shares are required to disclose their sales and purchases with the SEC.

Prairie Operating Price Performance

Shares of PROP stock opened at $9.89 on Friday. Prairie Operating Co. has a 52-week low of $0.32 and a 52-week high of $18.50. The stock has a 50 day moving average price of $9.26 and a 200 day moving average price of $10.94.

Prairie Operating (NASDAQ:PROP) last issued its earnings results on Friday, August 9th. The company reported ($0.71) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.33) by ($0.38). On average, equities analysts anticipate that Prairie Operating Co. will post 0.55 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Prairie Operating

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Rhumbline Advisers bought a new stake in Prairie Operating during the 2nd quarter valued at $45,000. Warberg Asset Management LLC bought a new stake in Prairie Operating during the 2nd quarter valued at $127,000. Finally, Bank of New York Mellon Corp bought a new stake in Prairie Operating during the 2nd quarter valued at $208,000. 34.28% of the stock is owned by institutional investors.

Prairie Operating Company Profile

Prairie Operating Co, an independent energy company, engages in the development, exploration, and production of oil, natural gas, and natural gas liquids in the United States. The company holds assets in the Denver-Julesburg Basin in Colorado; and the Niobrara and Codell formations. Prairie Operating Co is based in Houston Texas.